Zhejiang Tianneng Automobile Battery Co., Ltd. announced that it will receive CNY 433,705,500 in an equity round of funding on March 15, 2021. The transaction will include participation from returning investor Tianneng Battery Group Co., Ltd. (SHSE:688819) to retain its 100% stake holding in the company. The transaction has been approved in the 19th meeting of the first board of directors and the 13th meeting of the first board of supervisors of the investor. Post the transaction, CNY 200,000,000 will be added to the registered capital and the remaining to the capital reserve of the company and the registered capital of the company will increase from CNY 300,000,000 to CNY 500,000,000.